Asset Management Strategy 2022 - 2026

4.5.4 Financial Constraints

This AM Strategy aims to develop the strategies to achieve the asset management objectives through the balancing of asset service performance, cost, and risk.

Council’s unprecedented and sustained growth presents significant infrastructure challenges for both existing gap funding and new infrastructure to cater to the growing population’s needs and expectations.

The development of appropriate strategies needs to be undertaken in the context of limited financial resources and competing funding priorities. Incorporating strategic predictive modelling tools and techniques using data modelling software (Predictor©) will allow Council to undertake long-term infrastructure asset planning, across its complex portfolio of infrastructure assets, to:

• Simulate long term financial planning and Asset Investment Planning.

• Predict the future performance and level of service of infrastructure assets.

• Optimise available budgets over the life of the asset portfolio and identify where best to spend monies when funding is constrained.

• Produce 20 plus year Investment Plans, 10-Year Financial Plans, 5-Year Project Level Work Bank; and

• Allow for scenario modelling comparing outcomes of different asset management strategies (treatment types, intervention points, funding/budget levels).

Improvement items have been identified in the Improvement Plan Section to address how Council will manage financial funding challenges that many infrastructure organisations are faced with today.